Volkswagen components business to become independent entity

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FILE PHOTO: The logo of Volkswagen is seen at their plant in Wolfsburg, Germany, April 12, 2018. REUTERS/Fabian Bimmer/File Photo

FRANKFURT (Reuters) - Volkswagen (VOWG_p.DE) said its components development and manufacturing business would become an independent entity within the group from January 2019, alongside the VW Passenger Cars business and Volkswagen Commercial Vehicles.

It said the goal of its reorganization was to prepare the components business for the challenges of electric mobility.